Lesson Sixteen: Cash – The Gasoline That Keeps Your Business Running

  • How do I manage cash?

–Managing personal cash by creating a personal budget

–Investing personal cash to initially finance your business

  • What is the “story” of cash? It has three chapters: arranging the financing, investing in startup costs and paying startup expenses, and operating the business
  • What are the three categories that all cash flows can be classified?
  • What is the difference between cash basis accounting and accrual accounting?

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